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Advice You - Is Your Business Serving the World?
Why are you doing what you are doing? Why did you choose the business you are in? Many people in the se
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
rvice industries have a sense that they are here for a purpose, and they want to serve that purpose. You
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
might not know clearly what you are serving, but you are driven by ‘something’.
Take a moment now to thi
Take a moment now to thi
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
nk about what inspired you to start your own business. Was it the freedom? Was it to help others? To h
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
lp them do what? For what purpose? And what will that bring them? Was it to make your fortune? To be
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
n charge of your life? You could have chosen any field…why choose the one you are in?
There is a real b
There is a real b
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
enefit in getting very clear on why you are in business, and what you want to serve. It is so much easie
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
to market your business from a position of ‘here to serve the world’ than from a position of ‘I want you
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
r money’. Not only do your clients see it when you are ‘wallet-grabbing’, they feel it when you authenti
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
ally want to help them.
When you start to think about your marketing in terms of what you want to see in
When you start to think about your marketing in terms of what you want to see in
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
the world, it becomes easier to see how you could get out there, and why you should. It is no longer abo
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
ut ‘I need to market because I can’t eat without money’, it is about other people and what you can give t
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
em. It is more important than feeding your bank account, it is making your world a better place.
When y
When y
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
ou think about what you are serving, you can no longer hide your light under a bushel, because you are ne
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
ded. Imagine for a moment that Mother Theresa or Nelson Mandela had thought they had nothing to offer th
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
world – what a tragedy. It is the same for you. You are here for a purpose, and your business is your
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
vehicle for serving that purpose – are you using it?
My favourite example of this is an accountant who i
My favourite example of this is an accountant who i
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
passionate about world peace, and this translates to his work to get individuals at peace with their fin
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
ances. What a great marketing tool! (well, it’s different!) And it is serving this world, which so des
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
erately needs us all to step up and serve in our own way. So, what is your business serving in the world
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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